RE: interesting posts6 Oct 2021 16:57
Billy, can't you read?
Cypress 1 was delayed whilst they sorted a land package, another 80 acres.
I expected Cypress 2 to be done by now. It may be that they are sorting another land package: I don't know. If they were sorting another land package and I knew that to be the case I couldn't tell you.
What are you talking about 21 days from spud for? I have seen nothing that says that they have spudded. I expect they will spud shortly because once they start to get into November the weather deteriorates. Much better to get it done in October. Completion should be pretty quick because it can be tied back into the existing facilities.
Yes it is too expensive, relatively. When NTOG was looking at deals last year, quoted prices were $10k/$15k per flowing barrel. Currently, they are $25k/$30k per flowing barrel. If oil goes past $80 and stays there the price is going higher still.
I know that NTOG was in detailed discussions for quite a large package but as the oil went up the vendors got less and less keen on selling and the price went up. Eventually, it got to the stage that it wasn't viable from NTOG's point of view.
In your second para, you contradict yourself. You say that prices are too high but then say that everyone knows how low it can go because of COVID and so people are not lining up.
I have been investing in oil since the early 1980s; oil is cyclical it goes up and it goes down. What is different this time is this Green New Deal mania. It is increasingly difficult to replace supply in meaningful amounts.
Anyway, as they say: the cure for low oil prices is low oil prices, the cure for high oil prices is high oil prices. In this instance NG is making it worse and so if the Green agenda.
DYOR
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